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Compulsive gambler tells of 'Crown deal'

Daniel Fogarty

Crown Casino offered to double a compulsive gambler's money if he made out a $345,000 cheque payable to a "camouflage" account in the name of PBL Finance, a court has been told.

Harry Kakavas lost $30 million during a 16-month, $1.5 billion gambling spree in 2005 and 2006.

In July 2005, on just his second visit after a long exile from the casino, Mr Kakavas found himself short of cash having lost the $1 million he brought with him from his Gold Coast home to bet.

He had also already spent a $200,000 rebate the casino gave him.

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Mr Kakavas told the Victorian Supreme Court, a senior Crown staff member, either John Williams or Howard Aldridge, said Crown would double whatever money he could withdraw from his account.

He said the staff member took him to an ANZ bank on the corner of Elizabeth and La Trobe streets, the only bank open on a Saturday, and told him to get a bank cheque.

Mr Kakavas said the Crown staff member then told him to make the $345,000 cheque out to PBL Finance.

"They said to me that they anticipated that I would be bringing in substantial funds in the future and they said this was one way I could camouflage funds," he said.

Crown then gave Mr Kakavas a $345,000 credit.

"It went straight down the chute," Mr Kakavas said.

Mr Kakavas, 42, a property developer, who made his millions on the exclusive Gold Coast waterfront strip Hedges Avenue, is suing Crown Casino for $20.5 million.

He claims the casino allowed him to continue gambling despite knowing he was a pathological gambler and that he was banned from interstate casinos.

Earlier, Mr Kakavas told the court when he checked in to Crown after returning to play in June 2005 they welcomed him back with a package that looked like a chocolate box containing $30,000 "lucky money".

On one occasion, he described his losses at Crown as "just $5 million", while on another occasion he described a "paltry $5 million" loss.

He said he came to the casino for a "quick fix" to "win or lose money and go home".

The court was told after several visits to the casino, Mr Williams, who is the stepson of former casino chairman Lloyd Williams, told Mr Kakavas he was "playing really serious numbers" and had earned the use of Crown's private jet.

Mr Kakavas said in the two years before he returned to Crown he lost "a tick over $23 million US" ($A30 million) playing in Las Vegas.

Crown are counter-suing Mr Kakavas for $1 million they claim is owed to them.